Dakota County Single Family Home Sales Analysis – December 2009
January 3, 2010
Last month I started analysis showing the relationship between a homes sales price and the tax assessed value for single family homes sold in Dakota County Minnesota (November 2009 Sales Analysis). It showed that of the 32 homes sold in November, the average home sold for 90.1% of it’s 2009 tax assessed value.
This was interesting data and it really helps give a rough estimate for homeowners on setting expectations for their final sales price in this tough real estate market. I thought it would be valuable to do this on a regular basis to analyze how things might be changing and maybe look at some additional dimensions, like how the numbers might be different for each city in Dakota County.
Parameters For Analysis
For the month of December we have a larger sample to compare as there were 75 closed single family homes in Dakota County to compare. The homes included are -
- I only used single-family homes. I plan on expanding my analysis to townhouses later this month.
- I only used homes from traditional sellers. Therefore, I removed all bank-owned & short sales that might skew the data even lower.
- I removed any new home sales as they don’t have an accurate 2009 tax assessed value (there were 7 homes that I removed from December’s totals as they were new)
- December 2009 Data
So, with a bigger set of data we can see that the story actually got worse in December 2009 as the average home in Dakota County sold for 86.6% of its tax assessed value. Of the 75 homes, they broke down into different buckets:
| Price To Assessed | # of Homes |
| 100%+ | 5 |
| 90-100% | 23 |
| 80-90% | 29 |
| <80% | 18 |
Of the 5 homes that sold for over their assessed value, they seemed to either have major remodeling efforts recently or had something that was slightly wrong with their assessment causing them to have a lower assessed value than they should have.
Breakdown By City
Another way to look at the data is to break down the analysis by the cities in Dakota County to see if there are some places doing better or worse than the average. I only look at cities with more than 5 sales in December to give a larger sample.
| City | Avg. % Value |
| Apple Valley | 93.3% |
| Burnsville | 84.6% |
| Eagan | 85.9% |
| Farmington | 86.9% |
| Inver Grove Hts | 84.9% |
| Lakeville | 86.7% |
| South St. Paul | 77.0% |
Here we see that sellers in Apple Valley did much better than other cities while South St. Paul home sellers were well below the County wide average.
Additional Resources
In the coming weeks I’ll be looking at Dakota County statistical analysis for single family homes sold as short sales and bank owned sales as well as townhouse sales.
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[...] home sales in Dakota County as compared to their tax assessed value for the month of December 2009 (Single Family Home Sales Analysis). The data used in that report showed that the average traditional home (one that is not a [...]
[...] of December 2009. This is the 3rd part of my series which looked at traditionally sold homes (Dakota County Traditional Home Sales Analysis) and homes sold as part of a short sale (Dakota County Short Sale Analysis). I am comparing [...]
[...] have shown that, on average, non-bank owned homes sold for 86.6% of tax assessed value in December Dakota County Single Family Home Analysis – December 2009. I thought it would be valuable to see how well townhouses are doing with that same [...]
[...] Single Family Homes, Not lender mediated – Selling at 86.6% of Tax Value [...]